Brief by Shorts91 Newsdesk / 05:08pm on 28 Jul 2024,Sunday India
After public outrage over a Budget proposal requiring tax clearance certificates for foreign travel, the government clarified on Sunday that this rule only applies to those accused of financial irregularities or having substantial tax arrears. The Finance Ministry stated that the proposed amendment to the Finance Bill, 2024, does not affect all residents but targets those with serious financial irregularities or unpaid taxes exceeding ₹10 lakh. Approval from the Principal Chief Commissioner of Income Tax is necessary for such certificates, ensuring compliance and preventing misuse.
